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Crypto Fund Inflows Slow to $88M as Market Retreats
Bitcoin’s price is down 26% in the past 30 days, suggesting investors continue to see the price weakness as a buying opportunity, albeit at a slower pace.
Updated May 11, 2023, 5:06 p.m. Published Dec 13, 2021, 6:50 p.m.
Digital asset investment products saw inflows drop 52% last week to $88 million, as crypto markets saw a downturn.
The inflows into crypto funds during the week ended Dec. 10 compared with $184 million the prior week, according to a report Monday by CoinShares.
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Funds focused on bitcoin, the largest cryptocurrency, accounted for the bulk of the week’s inflows, at $52 million. The prior week, bitcoin-focused funds saw $145 million of inflows.
Bitcoin is down 26% in the past 30 days, suggesting investors continue to see the price weakness as a buying opportunity – but at a slower pace.
For the first time in six weeks, funds focused on ethereum, the second largest cryptocurrency by market capitalization, witnessed outflows. Ethereum fund outflows totaled $17 million last week.
This week’s inflows consisted of very mixed flows across assets, the report from CoinShares noted.
, the blockchain-based smart contracts platform, saw inflows of $17 million. SOL is down 35% on the month after reaching an all-time high in November.
, saw $15 million worth of inflows. Crypto funds focused on the multi-purpose blockchain platform now have an asset-management total, at $92 million, above that of Cardano’s $68 million, according to the report.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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